Dental Prosthetics Market Is Witnessing Growth Across The World !

Dental prosthetics are used as permanent solutions for dental restoration and replacement of missing teeth. Earlier, dental implants were the go-to choice for most patients, but this is being replaced by the trend of dental prosthetics given the growing awareness among patients and their willingness and ability to spend on surgery.

Dental prosthetics focus mainly on the restoration of intraoral defects resulting from periodontal conditions. The demand for efficient and cost-effective solutions has fueled the dental prosthetics market. According to a report by Transparency Market Research, the global market for dental prosthetics is estimated to grow from a value of US$3 Bn in 2014 to US$5.8 Bn by 2023. If these values hold true, the market is projected to develop at a healthy CAGR of 7.60% between 2015 and 2023.

Developed Regions Lead Global Dental Prosthetics Market

The global dental prosthetics market is geographically segmented into six key regions: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa, and Rest of the World. Europe held the largest share of the overall dental prosthetics market, fueled mainly by the rapid rise of aging population. According to the European Commission, the geriatric population base in Europe is estimated to reach 525 million by 2035. Rise in aging population translates to increasing cases of periodontal disease tooth decay, and caries. Other factors responsible for the growth of the Europe dental prosthetics market include a well-structured distribution channel and presence of leading players.

In 2014, North America was the second largest market for dental prosthetics and this region is driven by the rising number of tooth loss cases. The American Association of Oral and Maxillofacial Surgeons states that approximately 69.0% of American adults between 35 and 44 years have lost at least one permanent tooth because of an accident, failed root canal, gum disease, or tooth decay. In addition, the American Academy of Implant Dentistry indicates that nearly 15 million people in the country undergo bridge and crowns replacements for missing teeth on an annual basis.

Medical Tourism in Developing Economies Indicates Promising Future

Asia Pacific, the third largest dental prosthetics market, has been identified as having incredible untapped potential, making it the fastest growing region by 2023. This region is also propelled by a number of other factors, such as improving healthcare infrastructure, rising geriatric population, rising prevalence of oral cancer and periodontal diseases, and expansion activities of market players.

Another factor that drives the Asia Pacific dental prosthetics market is the growing medical tourism in the region. This factor also boosts the Latin American market as patients flock to these destinations for dental treatments. Tourists visit these regions because of low-cost treatments, availability of trained and expert dentists and dental surgeons, improving overall healthcare scenario, and increasing number of product launches.